Buy Tata Steel, target price Rs 1150: Kotak Securities

Kotak Securities has buy call on Tata Steel with a target price of Rs 1150. The current market price of Tata Steel Ltd. is Rs 1113.25.

Time period given by analyst is Intra Day when Tata Steel Ltd. price can reach defined target.

Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 134037.40 Crore) operating in Metals - Ferrous sector.


Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 50249.58 Crore, up 26.23 % from last quarter Total Income of Rs 39809.05 Crore and up 43.22 % from last year same quarter Total Income of Rs 35085.86 Crore. Company reported net profit after tax of Rs 7011.50 Crore in latest quarter.

Investment Rationale
The breakout of the confined range of a Rectangle chart pattern is very likely in the near term

Promoter/FII Holdings
Promoters held 34.4 per cent stake in the company as of March 31, 2021, while FIIs held 18.6 per cent, DIIs 25.4 per cent and public and others 21.6 per cent.